Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Get Free Report) insider Gary Ingenito sold 44,904 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $22.09, for a total value of $991,929.36. Following the transaction, the insider now directly owns 68,873 shares in the company, valued at $1,521,404.57. The trade was a 39.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Catalyst Pharmaceuticals Price Performance
Shares of CPRX traded up $0.19 during trading hours on Tuesday, hitting $20.86. The company's stock had a trading volume of 451,268 shares, compared to its average volume of 1,242,942. The company has a market cap of $2.53 billion, a price-to-earnings ratio of 17.64, a PEG ratio of 3.31 and a beta of 0.84. The business has a 50 day simple moving average of $22.27 and a two-hundred day simple moving average of $21.52. Catalyst Pharmaceuticals, Inc. has a 52-week low of $14.47 and a 52-week high of $24.64.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its position in shares of Catalyst Pharmaceuticals by 9.1% in the third quarter. JPMorgan Chase & Co. now owns 408,261 shares of the biopharmaceutical company's stock valued at $8,116,000 after purchasing an additional 33,888 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Catalyst Pharmaceuticals by 13.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 417,332 shares of the biopharmaceutical company's stock worth $8,710,000 after purchasing an additional 50,888 shares during the period. Wellington Management Group LLP purchased a new position in Catalyst Pharmaceuticals during the 3rd quarter valued at about $1,185,000. Redhawk Wealth Advisors Inc. bought a new stake in shares of Catalyst Pharmaceuticals during the fourth quarter valued at about $1,273,000. Finally, Spire Wealth Management lifted its holdings in shares of Catalyst Pharmaceuticals by 1,342.9% in the fourth quarter. Spire Wealth Management now owns 14,429 shares of the biopharmaceutical company's stock worth $301,000 after buying an additional 13,429 shares in the last quarter. 79.22% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on CPRX. HC Wainwright restated a "buy" rating and set a $35.00 price objective on shares of Catalyst Pharmaceuticals in a research note on Friday, February 28th. Robert W. Baird raised their target price on Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the company an "outperform" rating in a research report on Monday, March 3rd. Bank of America reissued a "buy" rating and issued a $30.00 price target on shares of Catalyst Pharmaceuticals in a report on Thursday, January 9th. StockNews.com upgraded shares of Catalyst Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a report on Friday, February 28th. Finally, Stephens reiterated an "overweight" rating and issued a $33.00 target price on shares of Catalyst Pharmaceuticals in a research note on Thursday, February 27th. Eight investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $32.50.
Check Out Our Latest Analysis on CPRX
About Catalyst Pharmaceuticals
(
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Catalyst Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on developing and commercializing therapies for people with rare debilitating, chronic neuromuscular, and neurological diseases in the United States. It offers Firdapse, an amifampridine phosphate tablets for the treatment of patients with lambert-eaton myasthenic syndrome (LEMS); and Ruzurgi for the treatment of pediatric LEMS patients.
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